|August 24, 2007|
Bell Targets Extension of Magma Vein at Superior West Project
|Vancouver, British Columbia: Bell Resources Corporation (TSXV:BL) today announced a further expansion of operations in Arizona with the introduction of a fourth new copper project under its strategic alliance with Bronco Creek Exploration Inc. of Tucson. |
The Superior West project will target extensions of the high grade Magma Vein system in the Pioneer mining district of Pinal County.
The project is the most recent to emerge from the strategic alliance with Bronco Creek, announced April 25, 2007. The others, all announced since then, consist of Mesa Well, Red Hills and Silver Bell West.
"Superior West adds further depth to our presence in the southwestern United States," said W. Glenn Zinn, President and CEO. "Taken together, the four Bronco Creek initiatives provide exciting new potential to our aggressive exploration program in the most prolific copper-producing region in the world."
Introduction & Location
The Superior West project is situated in the Pioneer mining district in Pinal County, Arizona. The Company's land position includes 203 unpatented federal lode claims comprising approximately 4,060 acres and an adjacent additional 14 claims totalling 280 acres.
The Pioneer district hosts at least three significant ore bodies: Resolution porphyry copper (1Bt @ 1.5 % Cu); Magma mine (25 Mt @ 5% Cu, approximately 1ppm Au, and 45ppm Ag); and the Superior East porphyry copper (910 Mt @ 0.5% Cu). Surrounding districts include the Mineral Creek district (Ray deposit) and multiple deposits in the Globe-Miami district, approximately 10 miles to the east.
The Superior West project comprises two target types, both with significant copper potential. The first is the faulted, down dropped western extension of the high-grade Magma vein system. The second is the suspected deep-seated, porphyry copper-related source for the Magma vein mineralization. A porphyry copper-related source, while probably lower grade in nature would likely represent a large tonnage deposit. Both target types can potentially be tested in a single drill program.
The district has had almost continual production since the Silver Queen (Magma) vein and other bonanza ores were located in 1875. The Magma Copper Co. was formed in 1910 and produced copper ore through 1982 when the mine was shut down due to low copper prices. Magma reopened the mine in 1990 and began district scale exploration which led to the discovery of the enormous and high grade Resolution deposit in 1995. A portion of the Superior West target area was first noted and staked by a local group in the 1960's. Superior Oil leased the property and drilled 2 vertically oriented deep holes, targeting the western extension of the nearly vertical Magma Vein. Although these drill holes did not intercept the Magma Vein extension, they did intercept significant intervals of mineralization, including both porphyry-like and replacement styles of mineralization. The Alliance originally staked the earlier held ground and has since expanded the land position to over 4,300 acres.
Geology / Exploration Target
The Superior West target area lies along the western margin of the Pioneer district, directly west of the east-west trending, Laramide age Magma Vein and related replacement deposits. The majority of the target area lies under post-Laramide cover composed of younger gravels and volcanic rocks. Rocks exposed in the main portion of the district comprise a sequence of Paleozoic and Precambrian sedimentary rocks which have been intruded by Laramide porphyries at deeper levels and capped by younger Tertiary volcanic rocks. Older, pre-Tertiary rocks have been tilted to the east by a series of down-to-the-west Tertiary normal faults. At least 2 generations of normal faults are exposed, the youngest of which, the Concentrator Fault, truncates the Magma Vein on the west side of the district.
The Magma Vein is zoned to higher Cu/Zn values at deeper levels to the west (Hammer 1968). The distribution of various Cu-, Zn-, Pb-, and As-sulfides also demonstrates higher copper and more proximal styles of mineralization, pointing to a source down and to the west of the current mine workings. New mapping in pre-Tertiary rocks along the northern boundary of the Superior West property position revealed zones of K-silicate alteration in exposures of diabase and the presence of manganese-oxide-silver mineralization. In addition, the previous drilling encountered similar mineralization as well as several altered and mineralized porphyry dikes on the Alliance property position. These features are consistent with proximity to a porphyry copper system. The structural interpretation suggests that fault blocks to the west of the Concentrator Fault may be at much shallower depths than previously recognized. Reviews of the newly obtained drill information have substantiated this model and have helped refine our targeting program.
The targeting of a porphyry copper style mineralization and the Magma Vein extension are based upon a number of lines of evidence. Most importantly:
In June 2007, a lease/option agreement was finalized between the Bronco Alliance and a local claim owner, adding 280 acres to the east side of the Superior West claim block. This agreement provided access to detailed information regarding the previously drilled holes in the southern part of the target area.
About the Bronco Alliance
The alliance between Bell Resources and Bronco Creek Exploration continues to develop on Bell's strategy of building a world-class technical team and portfolio of copper assets in the Americas with a focus on the south-western United States. The initiative has brought to Bell the addition of several Ph.D. level geologists with field experience along with an extensive portfolio of highly prospective projects located in one of the world's premier copper regions. With the Bronco Alliance, Bell is well positioned to take a leading role in making new discoveries in this region. For further information go to http://www.bellresources.com/s/Bronco.asp
About Bell Resources Corporation
Bell Resources is focused on the exploration and development of a diversified portfolio of North American base metal projects, with the most advanced being the past-producing Granduc Mine. The Company's strategic plan is focused on moving assets toward potential production, while continuing to target new acquisitions based on geological potential and economic viability. For further information on Bell Resources visit www.bellresources.com.
On behalf of the Board of Directors of
Bell Resources Corporation
"W. Glen Zinn"
W. Glen Zinn, President and CEO
Bell Resources Corporation
Tel: (604) 669-1484
Barnes McInerney Inc.
Senior Account Executive
Tel: (416) 367-5000 ext. 225
For further information please contact the Company
Tel: 604 669-1484 or email: email@example.com
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